Dealing with our Critical Raw Materials dependency – A Strategic Moment for UK and Europe
Andrew Gomarsall on measures to encourage bio-based refining and address a key issue in our economic security.
The UK and Europe are at a strategic turning point. The more we continue to rely on external suppliers who can weaponise supply or inflate prices, the more fragile our industries will become.
The thinktank points to the many critical metals such as rare earths, permanent magnets, gallium and graphite which are heavily supplied or refined in China; how it is using export licence restrictions and pricing policies as tools of geopolitical power.
China’s strategy is not just trade but is tying up the underpinnings of industrial competitiveness: the materials, the refining, the supply certainty.
Author summary: Europe faces a strategic moment in addressing raw materials dependency.